Letter: Where does candidates’ campaign money come from?


To the editor:

A recent article published in Germany’s Handelsblatt newspaper looked into the correlation between how much money U.S. presidential candidates raised and their success level. The findings revealed that, since Reagan’s victory in 1980, budget winners became election winners. So, one conclusion can be drawn here: financing is crucial to U.S. presidential candidates.

For the ongoing presidential race, Hillary Clinton has managed to raise almost four times more money than Donald Trump. So, one question arises: where is this money coming from?

A Clinton Super PAC includes a bunch of billionaires like Univision’s Haim Saban and David E. Shaw. I don’t see any of the “common man” type people Clinton has said she is going to help.

Who else is bankrolling Clinton’s campaign? Well, for starters, there are hedge funds, which seem to have a strong preference for Clinton over Trump. According to a recent Wall Street Journal article, hedge fund owners and employees have donated about $122.7 million during this election cycle — which makes up for approximately 14 percent of all donations. The Center for Responsive Politics made the effort to deconstruct this figure and came up with the following result: what is known for sure is that seven large hedge funds contributed a total of $48.5 million to pro-Clinton groups, while groups working on Trump’s behalf only got $19,000.

Yet we see Hillary blasting Wall Street as the bad guys. These Wall Street guys know Hillary will never do anything to hurt their business. She is just saying things against Wall Street to attract the extreme left wing of the Democrat party. She has no intention of helping the little guy; the common man.

Where do the other donations come from? Another article, published on Bloomberg, took a close look at where campaign money came from. “Clinton, a graduate of Yale Law School, draws heavily from attorneys, while businessmen are the biggest backers of Trump,” the note read.

So where do the new jobs come from? Hedge Fund operators don’t create jobs. Lawyers don’t create jobs. Who creates jobs? Our business owners and operators are the job creators.

They know how Trump will create jobs by his economic proposals. Democrats jump all over Trump’s proposal to revamp the tax laws and the stifling business regulations, saying this will only raise our deficit. The Democrats don’t understand how businesses create jobs when the heavy taxation and tons of regulations are lifted from the shoulders of business. With the creation of jobs, our tax collections go up and the deficit goes down.

By the way, who do you think pays those business taxes? They are passed on to you and me; the consumer by paying higher prices. We end up paying the business taxes and at the same time we all have less money to spend on goods and services, which in turn holds back our economy and job creation. This is economics 101.

Phil Cordes


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